HDFC BANK is Ready to fly after Long Time Stuck in Rectangle Chart Pattern
There is some retrecement possible in Upcoming session after breaking High Of Retrecement we can see such Big Rally
KEEP EYE ON THAT
Gaps are areas on a chart where the price of a stock (or another financial instrument) moves sharply up or down, with little or no trading in between. As a result, the asset's chart shows a gap in the normal price pattern. The enterprising trader can interpret and exploit these gaps for profit.
Important Trendline Breached & Gap has been filled today, Volume wise I can see strength,
Important day for tomorrow. I Will wait for the follow-up candle Then then take action...
Volume & OI is important as always...
HDFCBANK next week S/R important levels according to Gann Square where HDFCBANK can take support or face resistance these are very important levels we have observed from previous many years of analysis market stop and revers most of the time at or near from these levels.
these are the dynamic levels which changes on the basis of weekly closing
1) On 15min Time frame, we can see it gave breakout of resistance trendline.
Please refer below chart : 15min time frame.
Also we can see that range of 1330-1335 will be a neutral range if price is trading above it then it will be provide support and if price is below it then it will work as resistance.
Please refer below...
A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope.
We have to neutral now : Wait for our price to breach out.
15 min candle should be our priority.
We see perfectly an indecision candle on daily time frame
In 15 min candle we can clearly see double top formation at "1524.60"
We can see there are 2 gaps pending & that has to fill sooner so we are ready for long trade.
Buy Activate when price taken out @1535 & keep on pyramiding until it refill 1602.
1) On 1 day time frame, it closed just above 10DMA and still trading below 200DMA.
Please refer below chart : 1 day Time Frame.
2) Also on daily time frame, it made doji candle.
If it trades above today's high then it will be quick buy trade.
And if it trades below today's low then it will be quick short.
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
1) On 1day time frame, it closes below 200DMA.
But it has tendency to trade very less period of time below 200DMA.
Will it be a fake breakdown or it will jump from here tomorrow?
200DMA is placed at 1521.29.
Please refer below chart : 1 day Time Frame.
2) On 1 day time frame we can see level 1550 is major breakout level....
EXPLANATION : This is a 30 min time frame chart of HDFCBANK . It has been in a consolidate for days and has formed triple top pattern . If give a strong breakdown and broke its Demand zone with high volumes and retest the same , I am bearish on HDFCBANK . If taken support from Demand zone , I am bullish on HDFCBANK . Enter as per your setup .
If you like the...
EXPLANATION : This is a 45 min time frame chart of HDFCBANK . It has been in a sideways for days and formed Symmetrical triangle pattern ; A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend , while a breakout from...
Trade Setup for Date 30-08-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level...
1) After breaking neck line of rounding bottom at 1551 level it has been taking support from this neck line.
Please refer below chart : 15min time frame
2) For the short to mid term targets looks till 1634 level.
Please refer below chart.
Trade Setup for Date 27-08-2021:
1) On Daily Time Frame, It made good green candle after such big gap down. And closed above 1510 level as well as it took support from 50DMA.
Please refer Chart below: Daily time frame.
Trade Setup for Date 23-08-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get...
Simple Trade Setup for HDFCBANK.
today now it again came in the same Zone.
Target and levels mentioned on the chart and hope it is easy to understand.
My personal view is bullish.
Do comment your doubt or suggestion.
All the best for tomorrow.